Econ Homework Help Please!

Are you trying to do a break even analysis? It would help to answer if I know what type of analysis you are trying to do. :)

Anyway with just the information provided the answer is 4 if you are trying to maximize profits because at 4 your profit is 140 at five your profit is still 140 but your cost is higher and at six your profit drops to 120.

It maximizes profit while minimizing cost.

Dad this is econ not accounting. Aww come on dad, your answer would make sense but not in aggregate. I am an accountant and most profitable was the first I jumped to but it is a econ question which means in aggregate.

I have no idea, but maybe you could find some tutorial classes on You Tube, I know there are a bunch out there for all sorts of topics/

I agree with Jo - is there more to the question? Is the company looking for the highest net income overall? Highest net per item? To produce the most it can while maximizing profit? Or produce the least is can while maximizing profit?

UPDATE:
Tough room! Shooting from the hip even on a homework thread? :)

ORIGINAL:
It's a question about diminishing returns.

Do all the math - one will get more profit than the others.

ETA - figure the profit for each. for quantity output of one widget, it costs the dude 50, and he sells for 100. His profit is 50 - 100%. Pick the one with the highest percentage and that is his optimal level at which to run a business and make the most profit.

I think you just subtract the cost from the total revenue so that you get the total profit from each row.

1 $50
2 $90
3 $120
4 $140
5 $140
6 $120

So if you make 1 sprocket, the difference between how much you paid for parts (cost) vs how much you got selling it (Total Revenue) is a profit of $50. If you do the math down the list you find that making 4 sprockets (or whatever for a total profit of $140 is much better than making 5 sprockets for the same profit, or six for even less profit. So the answer would be four. You would want to produce a quantity of four whatevers for a maximum profit.

www.khanacademy.org

Perhaps, talk to your Professor?
Or any school should have Tutors.
Or get a study group together with your other classmates.